Ace Co. has issued $10,000,000, 20-year bonds and plans to make annual sinking fund deposits of $240,000 at the end of each year in order to repay the bonds at maturity. a. Assuming the sinking fund yields a return of 7%, should the fund balance be sufficient to repay the bonds in 20 years? b. Compute the required annual sinking fund deposits needed to accumulate the S10,000,000 repayment.